Salt Lake City, Utah - World Trade Center Utah (WTC Utah) now offers a full range of products and services to help Utah companies enter and expand in global markets as well as to find capital to help finance that growth. Companies ready to go global or expand their current international efforts are able to connect with WTC Utah at each stage and gain a partner dedicated to catalyzing their success as part of the organization's new Global Business Services Division.
Global Business Services builds on the capabilities WTC Utah has developed over years of helping Utah businesses grow in markets around the world through increased global sales and investment. The organization has always provided businesses with consultations, data-driven insights and grant funding. Now, in partnership with service providers in Utah and around the world, it also offers everything in between such as market research, strategy development, translation, logistics, freight forwarding, global matchmaking and more.
Aaron Starks, Vice President of Global Business Services for WTC Utah, is leading the organization's business consulting and development services. "The goal is to catalyze growth for Utah businesses while also mitigating risk," shared Starks. "Businesses that engage globally grow much faster and are far more resilient than those that don't. Going global without strong support and experience in place can diminish expected returns, exhaust company resources and leave you with a sour taste in your mouth. We have the resources for Utah companies to identify global opportunities, develop a strategy to take advantage of those opportunities and then to compete and win in the global marketplace."
WTC Utah assesses a company's preparation, strategy and capabilities before an investment is made. After providing data and information to help shape and inform a company's decision, WTC Utah can provide services to develop a company's website, refine their marketing strategy, move product and become legally compliant. The organization also administers public and private grant programs that are designed to catalyze global growth for small Utah businesses, especially those in rural Utah and the state's multicultural communities.
While many of these services will be facilitated by the WTC Utah team, the organization is partnering with specialists in the community to offer a wide range of expertise and experiences. "We have expanded opportunities to create value by engaging our partners who have graciously agreed to advocate for our companies going global," said Starks.
Air & Sea International, a transportation company located in Murray, Utah, is an official Global Business Service partner of WTC Utah. Founded in 1985, they are a U.S. non-asset based independent freight forwarder that specializes in export and import shipments.
"Air & Sea International is excited to build on our partnership with WTC Utah to provide world-class international logistics and consulting services," said Jason Fowler, President of Air & Sea International, Freightlink and Intermountain CHB. "We share WTC Utah's vision of empowering, attracting and mobilizing international business in Utah, and through this partnership we can continue to help customers navigate through the current global transportation market and reach their international sales goals."
Businesses that export grow faster during economic expansions and are far more resilient during economic downturns. The United States International Trade Commission reported that during the 2008-2009 financial crisis, small and medium-sized businesses that exported had more than twice the total revenue of their non-exporting counterparts. These exporters had revenue growth of 37% between 2005 and 2009, while total revenue declined by 7% for non-exporting businesses over the same period.
International trade and investment now support nearly one in every four jobs in the state, with small businesses accounting for 85% of Utah's exporters. Last year, international sales added nearly $5 billion in additional revenue for these small business exporters, and Utah's export growth rate has led the nation for the past two years. Despite the pandemic's unprecedented global economic disruption-or perhaps because of the opportunities hidden within the crisis-Utah's path to economic recovery and revitalization runs directly through global markets, just as it did a decade ago.
"This is a really exciting time for Utah companies ready to go global! Through our Global Business Services, we can partner with any company at any stage and provide the consultative services they need to generate revenue and create jobs for Utah's economy," said Starks. "Our tendency to think global, work together and lead-out is the recipe to our secret sauce."